New Skipton Building Society Guaranteed Bonds launched

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New Skipton Building Society Guaranteed Bonds launched

Mon 17th Jul 2006

Investors could be set to benefit from increases in the FTSE 100 Index as two new index-linked bonds have been launched by Skipton Building Society.

The Guaranteed Double Asset Bond and Guaranteed Triple Asset Bond will also be linked to the Halifax House Price Index (HPI) and both will offer a guaranteed return of 6.50 per cent gross per annum.

Skipton's double asset bond takes one third of the investment and pays a fixed rate return at 6.5 per cent for one year while the remaining two thirds are linked to the FTSE 100 over a five and a half year period, paying out 100 per cent of positive growth.

A one-year fixed rate of 6.5 per cent applies to one third of the triple asset bond, another third is invested in the FTSE in the same way as the double asset bond while the remaining third of an investment pays out 100 per cent positive growth in the Halifax HPI over a five and a half year period.

John Goodfellow, chief executive of Skipton, said: "Each of these bonds benefits from a fantastic fixed rate of 6.50 per cent, the return from which is then built upon with an index linked bond."

The new Skipton Building Society Guaranteed Bonds are among a number of bonds and investment opportunities available from the UK's seventh largest building society.

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